• Gift to friend

can any one gift cash 10 crore to his friend? what will be the procedure of gifting money?
Asked 3 years ago in Civil Law from kolkata, West Bengal
You can't gift the money to your friend.......
Pradeep Bharathipura
Advocate, Bangalore
4184 Answers
149 Consultations
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what is source of your funds ? is cash declared in income tax returns . ?you cant make payment of more than Rs 20,000 by cash .
Ajay Sethi
Advocate, Mumbai
26066 Answers
1417 Consultations
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you can gift ,but your friend will have to pay gift tax on that amount
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations
3.5 on 5.0
You may make the gift, but it will be liable to gift tax. Furthermore, the same shall have to be reflected in your income tax returns.
Ashish Davessar
Advocate, Jaipur
19108 Answers
484 Consultations
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